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RNC Sends Letter To Hillary Clinton's Accountant On Tax Day

- April 18, 2016

WASHINGTON – Republican National Committee (RNC) Chairman Reince Priebus sent a letter to Hillary Clinton's accountant, Rorrie Gregorio, on Tax Day highlighting the hypocrisy of her tax plan. The letter calls on Clinton to put her money where her mouth is and pay the additional taxes her plan is proposing other Americans of similar income pay.


A copy of the letter can be viewed here.

Full text of the letter below:

April 18, 2016

 

Rorrie Gregorio
National Partner-in-Charge, Family Office Group
Member, High-Net-Worth Individuals Practice Group
Marcum LLP
750 3rd Avenue
11th Floor
New York, NY 10017
 
Ms. Rorrie Gregorio,

As Hillary and Bill Clinton’s financial and estate planner, as well as their personal accountant, I am writing to you on this annual tax day to inquire as to whether Hillary Clinton has chosen to put her money where her mouth is, and pay the additional taxes she is hypocritically proposing that other Americans of similar income pay, but not said she is willing to voluntarily pay herself.

As a part of Mrs. Clinton’s tax policy proposals, she has called for an unprecedented new tax on Americans who earn more than $5 million annually. This 4-percent “surcharge” would effectively create an entirely new tax bracket for people at the top 0.01 percent, such as herself.

Since leaving the White House in early 2001, at a time when she claimed to be “dead broke,” the Clintons have earned at least $186,674,757 in taxable income (See attached). In 2014, the last year in which the Clintons have publicly released their tax returns, they earned $22,787,248, their highest single year of taxable income since being “dead broke.”

With the Clintons’ tremendous income, I am calling upon them to fully embrace her new tax by applying the “surcharge” to her family’s previous income since 2001 when her family income has been in excess of $10 million on average annually.

Should the Clintons choose to put their money where their mouth is and pay Hillary Clinton’s proposed tax, she and her husband would owe the Internal Revenue Service a cumulative amount of $4,687,898.56 dating back to 2001. To pay the tax for 2014 alone, the Clintons would owe $711,489.92.

As a member of the top .01 percent of American income-earners and a proponent of higher taxes, Clinton should practice what she preaches by sending the U.S. Treasury the over $4.6 million she would have owed under her new tax.

In addition, it is imperative that the Clintons continue to lead moving forward, and pay this 4-percent “surcharge” tax on their 2015 federal income tax filings and each year moving forward.

Mrs. Clinton has a particular obligation to honor her tax agenda considering her and her husband’s past and current use of the tax code. Whether it was the improper use of interest deductions on their Whitewater real estate loans, or their current use of real estate loopholes to avoid fully paying the estate tax, another tax she seeks to raise, the Clintons can no longer hide their hypocritical penchant for gaming the tax system.

The American people are tired of the Clintons playing by their own set of rules. I urge Hillary Clinton to put aside her family’s tax hypocrisy, put her money where her mouth is, and pay the IRS the costs of her own tax hiking agenda.

 

Sincerely,

 

Reince Priebus
Chairman, Republican National Committee


How Much Clinton Would Owe Under Her 4-Percent Surcharge Tax

YEAR

TAXABLE INCOME

TAXABLE INCOME OVER $5 MILLION

AMOUNT OWED

2001

14,427,526

9,427,526

377,101.04

2002

8,881,115

3,881,115

155,244.60

2003

7,027,281

2,027,281

81,091.24

2004

16,376,091

11,376,091

455,043.64

2005

15,270,582

10,270,582

410,823.28

2006

13,251,979

8,251,979

330,079.16

2007

15,696,172

10,696,172

427,846.88

2008

4,477,303

0

0.00

2009

8,071,656

3,071,656

122,866.24

2010

10,704,263

5,704,263

228,170.52

2011

11,621,445

6,621,445

264,857.80

2012

15,921,409

10,921,409

436,856.36

2013

22,160,687

17,160,687

686,427.48

2014

22,787,248

17,787,248

711,489.92

Total:

186,674,757

117,197,454

4,687,898.16

 

 


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